Nanny Taxes Explained

Nanny Taxes Explained

If you have someone working in your home for pay, you may have to pay household worker taxes, often called “nanny taxes” (we’ll use the terms interchangeably). You may have heard horror stories about how complex nanny taxes are (and they certainly are). Nanny taxes are complex because you are putting yourself in the position of the employer of a nanny. We’ll start off by determining whether you actually have to do nanny taxes in the first place. After that we’ll cover Federal and state requirements for becoming an employer, ending with a list of regular taxes you need to…
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Cryptocurrencies & Taxes: Bitcoin, Ethereum, and Litecoin

Cryptocurrencies & Taxes: Bitcoin, Ethereum, and Litecoin

You may have heard of Bitcoin, Ethereum, and Litecoin, but have you heard of Dogecoin, PotCoin, and Cthulhu Offerings? These are all cryptocurrencies, or digital currencies that use blockchain technology to track the total history of every transaction in that currency. If you own or are considering purchasing cryptocurrencies, you might wonder if we have any experience with them, along with how to account for the taxes on them. The short answer is: yes, we do! Stay tuned for the long answer below. https://youtu.be/4k57bMWpR1Q Questions We’ll Ask You We’re going to use the term “coin” interchangeably with “cryptocurrency” for the…
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Restricted Stock Units (2020 Update)

Restricted Stock Units (2020 Update)

Are you familiar with RSUs, or Restricted Stock Units? We know the term is intimidating, but we have experience dealing with RSUs, and we can help you deal with them, too. Let’s get into what RSUs are. https://youtu.be/2KtrIJy_MY4 What Are Restricted Stock Units? RSUs are a way to compensate employees. It’s a method that’s used very frequently in the tech industry. An employee is given stock grants that vest on a set schedule. On the vesting date, the employee receives the right to the stock, at which time it is taxed and included in the employee’s compensation. Now, something weird…
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